In this paper we try to address the question of what could help make the renminbi a reserve currency. In recent years …-track strategy: promotion of the use of the renminbi in the settlement of cross-border trade and investment, and liberalization of … renminbi in global reserves could reach 12%. However, if institutional and market variables are included, the predicted share …

vulnerability. As demonstrated by the renminbi trade settlement scheme piloted between the People's Republic of China; Hong Kong …